Townsquare Capital LLC Invests $2.45 Million in Rambus Inc. (NASDAQ:RMBS)

Townsquare Capital LLC bought a new stake in Rambus Inc. (NASDAQ:RMBS) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 46,390 shares of the semiconductor company’s stock, valued at approximately $2,452,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RMBS. Geode Capital Management LLC increased its holdings in shares of Rambus by 0.8% in the third quarter. Geode Capital Management LLC now owns 2,621,342 shares of the semiconductor company’s stock valued at $110,693,000 after purchasing an additional 21,053 shares during the period. Coldstream Capital Management Inc. boosted its holdings in Rambus by 15.8% in the third quarter. Coldstream Capital Management Inc. now owns 5,285 shares of the semiconductor company’s stock valued at $223,000 after purchasing an additional 722 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Rambus during the 3rd quarter valued at about $407,000. Sanctuary Advisors LLC boosted its stake in shares of Rambus by 30.2% in the third quarter. Sanctuary Advisors LLC now owns 5,288 shares of the semiconductor company’s stock worth $223,000 after buying an additional 1,228 shares during the last quarter. Finally, World Investment Advisors LLC purchased a new position in Rambus during the third quarter valued at approximately $989,000. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on RMBS shares. Susquehanna boosted their target price on shares of Rambus from $66.00 to $70.00 and gave the company a “positive” rating in a research note on Tuesday, February 4th. Wells Fargo & Company increased their target price on shares of Rambus from $62.00 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. StockNews.com cut Rambus from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Evercore ISI assumed coverage on Rambus in a research report on Tuesday, February 4th. They set an “outperform” rating and a $71.00 price target on the stock. Finally, Robert W. Baird set a $90.00 price objective on Rambus in a report on Monday, February 3rd. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $76.71.

Rambus Trading Up 0.5 %

NASDAQ:RMBS opened at $47.47 on Wednesday. The stock has a 50 day moving average of $55.22 and a two-hundred day moving average of $54.11. Rambus Inc. has a 12 month low of $37.43 and a 12 month high of $69.15. The firm has a market cap of $5.10 billion, a P/E ratio of 28.60 and a beta of 1.20.

Insider Transactions at Rambus

In other Rambus news, CEO Luc Seraphin sold 10,000 shares of the firm’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $53.79, for a total value of $537,900.00. Following the transaction, the chief executive officer now owns 316,931 shares in the company, valued at approximately $17,047,718.49. This trade represents a 3.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Xianzhi Sean Fan sold 52,327 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $68.02, for a total transaction of $3,559,282.54. Following the sale, the chief operating officer now directly owns 93,841 shares of the company’s stock, valued at $6,383,064.82. The trade was a 35.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 96,952 shares of company stock valued at $5,969,155 over the last ninety days. Insiders own 1.00% of the company’s stock.

Rambus Company Profile

Rambus Inc provides semiconductor products in the United States, South Korea, Singapore, and internationally. The company offers DDR memory interface chips, including DDR5 and DDR4 memory interface chips to module manufacturers, OEMs, and hyperscalers; silicon IP, such as interface and security IP solutions that move and protect data in advanced data center, government, and automotive applications; and interface IP solutions for high-speed memory and chip-to-chip digital controller IP.